Property tax
Property tax is an amount that a property/ landowner pays annually to the local or state government. It is levied on assets that classify as ‘real property’ and usually include land and buildings. The state’s respective municipal authorities collect this tax from citizens, and it is among the primary sources of revenue for these entities. The funds collected are used to fund the upkeep and improvement of civic amenities, education, transportation, recreation, local infrastructure, etc.
Property tax computation formula
Property tax is based on property valuation and appraisal as per the locality the individual resides in. The amount collected as property tax by a municipality, a municipal corporation, or a Panchayat within a state or city can vary depending on the locality’s type of levy, amenities available, and other similar factors. With this information, you can even calculate the applicable tax by yourself.
The general formula for municipal tax calculation is:
Tax on property = Property’s base value x building type x age factor x built-up area x floor factor x use category
This is a manual method, but you can also compute your property tax online. In any case, property owners can pay their taxes online or offline. Regardless of how you pay your tax, ensure that you collect the tax receipts after payment. These documents are required when you apply for certain financial instruments or when you want to claim benefits such as the loan against property tax exemption.
Steps to pay property tax online
Follow these simple steps to file your property taxes online:
- Visit the official website of your municipal corporation
- Navigate to the page where you will be able to file your property tax
- Enter your property details, as well as other necessary information on that page as you fill-up the form
- Input any other information required to process, examples of which are listed below
- Ownership details
- Building type
- Occupancy details
- Floor and total area
- Age
- Exemption category
- Verify and confirm the information
- Proceed to pay your municipal tax and download the acknowledgement of receipt
Check your Property Tax Grievance Status Online
Certainly, checking your Property Tax Grievance Status Online involves using the website of your local tax authority or municipal corporation. Here, you can monitor the status of any grievance filed against your property's tax assessment. It's an effortless way to keep track of your complaints and see how far they've progressed in the resolution process.
How to Download Property Tax Receipt/Invoice Online?
The process to download your Property Tax Receipt or Invoice online is quite user-friendly. Visit the official website of your local municipal corporation or tax authority. Look for the option that leads to e-services or online services and click on 'property tax'. Then enter your property details to log in. You'll find an option to view your last paid receipt or invoice. Click on it and press the 'download' button to save a copy on your system.
Property Tax in Other Cities
Cities |
Property Tax |
Delhi |
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Mumbai |
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Tamil Nadu |
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Lucknow |
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Kanpur |
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Hyderabad |
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Indore |
Property Tax in Indore |
Frequently asked questions
To check your pending property tax in Delhi, you need to visit the official MCD property tax portal. On this portal, choose the zone of your property and fill in the required details such as your property ID, name, address, and property type. Once you submit this information, the website will show you the pending property tax amount, if any.
You can find your MCD-booked property online via the MCD's official portal. You will need to select the zone of the property first, then enter your property ID or address. Upon clicking the 'search' button, your property details will appear if it is listed and registered.
The property tax rates can vary depending on your locality. To find out the rate in your locality, visit the official website of your local municipal corporation (such as MCD for Delhi). Usually, there will be an online calculator or chart available showcasing the tax rates for different localities and property types.
The age to claim property tax exemptions in India typically begins at 60 or 65 years, as most municipal corporations offer concessions to senior citizens. However, the precise age and conditions for such exemptions can vary from one municipality to another. Therefore, it is advised to check the local tax laws or contact your local tax office for accurate information.
